The Genoa Conference was held in Genoa, Italy in 1922 from April 10th to May 19th. At this conference, the representatives of 34 countries convened to speak about monetary economics in the wake of "The Great War", World War I. The purpose was to formulate strategies to rebuild central and eastern europe after the war, and also to negotiate a relationship between european capitalist economies, and the new Russian Communist economy (Georgy Chicherin). Location within Italy Flag of Genoa Christopher Columbus monument in Piazza Aquaverde Genoa (Italian Genova, Genoese Zena, French Gênes) is a city and a seaport in northern Italy, the capital of the Province of Genoa and of the region of Liguria. ... Ypres, 1917, in the vicinity of the Battle of Passchendaele. ... World War I was primarily a European conflict with many facets: immense human sacrifice, stalemate trench warfare, and the use of new, devastating weapons - tanks, aircraft, machineguns, and poison gas. ... Georgy Vasilyevich Chicherin (Russian: Георгий Чичерин) (1872–1936) was Peoples Commissar of Foreign Affairs in the Soviet government from 1918 to 1930. ...
Among the propositions formulated at the conference was the proposal that central banks make a partial return to the Gold Standard. The Gold Standard had been dropped to print money to pay for the war. Central banks wanted a return to a gold-based economy for easing international trade and facilitating economic stability, but wanted a form of Gold Standard that "conserved" gold stocks - meaning that the gold remained in their vaults and day-to-day transactions were conducted with the representative paper notes. 1922 U.S. gold certificate The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold. ...
This partial return to the Gold Standard was done by permitting central banks to keep part of their reserves in currencies that were themselves directly exchangeable for gold coins. However, citizens under this new Gold Exchange Standard (also known as the Gold Bullion Standard or the Inter-war Gold Standard) would not recieve gold coins of the realm in exchange for their notes, though this had been an integral part of the original Gold Standard now known as the Gold Coin Standard. This article is on the monetary principle. ...
Under the Gold Bullion Standard, citizens of Britain and other European countries could only redeem their banknotes in large gold bars. Such bars were unsuitable for day-to-day transactions, but largely achived the goal of keeping the gold in the vaults.
References
Encyclopædia Britannica - http://www.britannica.com/eb/article-9000832
Among Genoa’s notable buildings are the Cathedral of San Lorenzo (rebuilt in 1100 and frequently restored), the palace of the doges, the richly decorated churches of the Annunciation and of St. Ambrose (both 16th cent.), the medieval Church of San Donato, many Renaissance palaces, and the Carlo Felice opera house (19th cent.).
The power of Genoa was revived by the seaman and statesman Andrea Doria, who wrote a new constitution in 1528; the conspiracy (1547) of the Fieschi family against his dictatorship failed.
The Congress of Vienna united (1814) Genoa and Liguria with the kingdom of Sardinia.
The GenoaConference was held in Genoa, Italy in 1922 from April 10th to May 19th.
Genoa (Italian Genova, Genoese Zena, French Gênes, German Genua, Spanish Genova) is a city and a seaport in northern Italy, the capital of the Province of Genoa and of the region of Liguria.
Genoa suffered from French bombardment in 1684, and was occupied by Austria in 1746 during the War of the Austrian Succession.
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